Posted on 09/22/2021 5:54:00 AM PDT by napscoordinator
Six years ago, Dan Price, the founder and CEO of credit-card processing company Gravity Payments. made waves when he announced that he was raising the firm's minimum salary to $70,000 for his 120 employees.
To accommodate the change, Price slashed his own $1 million salary.
In the following years, revenue soared, and staff had many more babies and bought more homes, Price told Insider.
The Seattle-based company's starting wages used to be roughly $35,000, Price said. But for the company to thrive, he felt he needed to make sure all employees were making enough to look after themselves.
(Excerpt) Read more at businessinsider.com ...
The devil is in the details.
That is great. I remember a manager at Subway always complained about turnover. She paid 6.00 an hour in the late 90’s. If only she paid 10, she’d have a full group of workers. But she would rather take vacations to the Caribbean. She always got phonecalls about the store’s current problem. Lol.
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